Business
The Major Gain For Nigerians As Trade Minister Niyi Adebayo Cancels Prohibition Of Sugar Importation From Free Trade Zones
Minister Adebayo has written relevant authorities including the Minister of Finance on the cancellation of the initial directive
Eniola Adeniyi
The Minister for Industry, Trade and Investment Otunba Niyi Adebayo has cancelled the prohibition of importation of Sugar from the free trade zones into the Nigerian customs service.
societynow.ng gathered that the Minister’s move invalidates an earlier directive, via letter, he issued to all relevant government agencies in which he copied the office of the Secretary to the State Government, the Comptroller General of the Nigeria Customs and Managing Director of the Nigerian Port Authority(NPA).
The Trade Minister issued the prohibition order in the face of allegations raised by the duo of Chairman of Dangote Industries Aliko Dangote and Chairman of Flour Mills Nigeria, John Coumantaros over alleged happenings in the Sugar industry.
BUA Group pushing for increased supply of sugar to make it affordable, at the receiving end of the prohibition secured a court order against it but that did not stop government agencies led by the NPA to mobilize terminal operators and other players in executing the Minister’s directive societynow.ng learned.
Information at hand revealed that after diligent investigation, the Minister has reversed the prohibition order.
Minister Adebayo has written relevant authorities including the Minister of Finance on the cancellation of the initial directive prohibiting importation of sugar from the free trade zone into the Nigerian Customs territory – a move that is a huge relief for the common man because boosts the supply of sugar, reduces the price of sugar and makes it affordable for all.
